Short Interest in Forum Energy Technologies, Inc. (NYSE:FET) Rises By 9.5%

Forum Energy Technologies, Inc. (NYSE:FET - Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 15th, there was short interest totalling 108,300 shares, an increase of 9.5% from the December 31st total of 98,900 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average trading volume of 62,300 shares, the days-to-cover ratio is currently 1.7 days.

Forum Energy Technologies Price Performance

Shares of NYSE FET traded down $0.36 during trading hours on Wednesday, reaching $17.74. 14,846 shares of the stock traded hands, compared to its average volume of 67,385. The company has a market capitalization of $217.79 million, a P/E ratio of -4.19 and a beta of 2.38. The company has a quick ratio of 0.87, a current ratio of 1.93 and a debt-to-equity ratio of 0.37. Forum Energy Technologies has a 52-week low of $12.83 and a 52-week high of $20.85. The company's 50-day simple moving average is $16.40 and its two-hundred day simple moving average is $16.12.

Insider Activity

In related news, Director Louis Raspino sold 4,950 shares of the firm's stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $15.41, for a total transaction of $76,279.50. Following the transaction, the director now directly owns 16,121 shares of the company's stock, valued at approximately $248,424.61. This trade represents a 23.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.80% of the company's stock.

Hedge Funds Weigh In On Forum Energy Technologies

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its position in shares of Forum Energy Technologies by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 438,899 shares of the oil and gas company's stock worth $7,400,000 after buying an additional 25,982 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Forum Energy Technologies by 21.8% during the second quarter. Renaissance Technologies LLC now owns 79,900 shares of the oil and gas company's stock valued at $1,347,000 after purchasing an additional 14,300 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Forum Energy Technologies by 123.9% during the second quarter. Squarepoint Ops LLC now owns 31,044 shares of the oil and gas company's stock valued at $523,000 after purchasing an additional 17,177 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Forum Energy Technologies by 4.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,858 shares of the oil and gas company's stock valued at $4,141,000 after purchasing an additional 12,449 shares in the last quarter. Finally, Crossingbridge Advisors LLC bought a new stake in shares of Forum Energy Technologies during the third quarter valued at approximately $3,721,000. 65.60% of the stock is owned by hedge funds and other institutional investors.

Forum Energy Technologies Company Profile

Forum Energy Technologies, Inc designs, manufactures, and distributes products serving the oil, natural gas, industrial, and renewable energy industries in the United States and internationally. It operates through three segments: Drilling & Downhole, Completions, and Production. The Drilling & Downhole segment designs, manufactures, and supplies products, and provides related services to the drilling, well construction, artificial lift, and subsea energy construction and services markets, including applications in oil and natural gas, renewable energy, defense, and communications.